The European Investment Bank (EIB) has granted a £46m fund to build new Papworth Hospital on the Cambridge Biomedical Campus in the UK.
The hospital will be built next to the Addenbrooke’s Hospital and is the third hospital to be supported by EIB in UK this year, after the new Royal Hospital for Sick Children in Edinburgh and the Dumfries and Galloway Royal Infirmary.
European Investment Bank vice-president Jonathan Taylor said: "The European Investment Bank is committed to supporting long-term investment that improves lives in the UK, and recognises that investment in new hospitals is essential for high quality healthcare and continued research into new medical treatment."
The Papworth Hospital will feature 310 beds and modern healthcare facilities. It will include day case and critical care rooms, and all inpatient rooms will be single bedroom accommodation with en-suite facilities.
With the support of Addenbrooke’s Hospital, the Papworth Hospital will provide a range of specialist services for patients on one site.
Papworth Hospital is claimed to be one of the largest providers of cardiothoracic healthcare in the UK and a leading centre for development of heart and lung disease diagnosis and treatment.
The new facility will also be involved in research and development in collaboration with the University of Cambridge, Medical Research Council and Addenbrooke’s Hospital.
Papworth Hospital chief executive Stephen Bridge said: "Construction will start onsite immediately and the new hospital will be open to patients in early 2018."
In the UK, EIB is providing funding to the new Royal Liverpool and Alder Hey hospitals, Southmead Hospital in Bristol and the Royal Stoke University Hospital.
Image: EIB has agreed to provide £46m for the new Papworth Hospital. Photo: courtesy of European Investment Bank 2015.